A new Era of 'Learning by Doing'
The Office of Experiential Learning is preparing future business leaders by providing every student with experiential opportunities connecting them to the business world in unique and unforgettable ways. This initiative integrates “learning by doing” across programs and majors, so that all Price students can have hands on experiences with companies and business professionals.
Experiential learning as an instructional practice has been defined and characterized differently across higher education. At Price College, to be considered experiential learning, any activity must have at least two of the following three criteria:
As part of its core function, the Office of Experiential Learning will create and oversee high-profile signature programming that will benefit our students and community. These programs will be the most visible activity of the Office, but is not an exhaustive list of all outcomes:
When we invite business professionals to speak at Price College, we bring real-world experiences to students.
High-profile speaking events also help us build relationships that can be leveraged for career placement. The Dean’s Speaker Series is the flagship speaker series at Price College, attracting a diverse mix of preeminent business leaders who will provide insightful perspectives on effective leadership and inspire thought provoking discussions. These events occur four-six times annually.
Competitions are one of the most valued experiential learning opportunities in business schools. While case competitions, centered around an actual problem in an organization, are the oldest and largest category of student competitions, startup pitch competitions, investment pitch competitions and business analytics competitions continue to gain popularity. The Office of Experiential Learning sends undergraduate and graduate teams to six to ten competitions annually.
Employers will increasingly focus on candidates’ abilities to operate in digital environments and add value to their organizations in ways automated systems and machine learning do not. These short, intensive skills-focused courses will be free for students and will be delivered by a combination of external providers and internal faculty, to include topics such as financial modeling in Excel, agile project management, complex problem solving, design thinking, cryptocurrencies and blockchain, and more.
Enabling widespread adoption and expansion of experiential learning will happen only if we successfully empower the core constituents within the College—our faculty and our students. We will empower our faculty and students to create their own experiential learning opportunities, which will allow for consistent innovation of this type of learning to be delivered. Doing so will accelerate the cultural acceptance of learning by doing and the marketability of all our programs and degree offerings.
Price College exists to ensure the enduring global competitiveness of Oklahoma and the nation. We fulfill our purpose by developing highly competent business professionals and leaders who can meaningfully contribute to their workplace and society upon graduation. Our strategic plan calls for us to substantially improve our capacity and capability to provide world-class experiential learning opportunities for all Price students.
The commitment to create an Office of Experiential Learning results from a deep understanding of our responsibility to our students. Everything we do centers around how to improve their opportunities.
In addition to technical knowledge, successful business professionals must possess a range of soft skills, including communication, teamwork, and leadership. These skills are best developed through practice—by doing. For instance, working on group projects or participating in business simulations requires students to communicate, collaborate, negotiate, and lead teams, mirroring the dynamics of a real business environment.
Such experiences help students build confidence and competence in their interpersonal skills, which are crucial for effective management and leadership.
The ability to adapt to change and bounce back from setbacks is crucial in today’s volatile business environment. Experiential learning provides students with opportunities to navigate real-world challenges, confront failures, and learn from their mistakes in a supportive environment. By experiencing the ups and downs of business firsthand, students develop resilience, flexibility, and the capacity to pivot strategies when faced with unexpected obstacles or market shifts, equipping them with the adaptability necessary to thrive in an ever-changing business landscape.
Effective collaboration and strong leadership are essential for driving organizational success. Experiential learning activities, such as group projects, team-based simulations, and leadership development programs, enable students to hone their collaboration and leadership skills in a practical setting. By working in diverse teams, navigating interpersonal dynamics, and taking on leadership roles, students develop the communication, conflict resolution, and team management abilities that are critical for fostering productive collaboration and inspiring others to achieve shared goals.
When we invest in faculty to improve their teaching capabilities, we invest in students. In the rapidly evolving landscape of global business, teaching theoretical knowledge alone is no longer sufficient to prepare students for the complexities and challenges they will face in their careers.
Traditional lectures and textbooks provide foundational knowledge, but cannot fully demonstrate how these concepts are applied in real-world scenarios. When faculty integrate experiential learning opportunities, such as case studies, simulations, and project-based assignments, students can apply their theoretical understanding in practical settings. This hands-on experience not only reinforces their learning but also enhances their problem-solving and decision-making skills.
Effective decision-making is a cornerstone of successful leadership and organizational performance, but teaching this can be difficult. Experiential learning designed by faculty can empower students to hone their strategic decision-making prowess by exposing them to real-time data, market trends, and stakeholder perspectives. Through hands-on experiences, such as business simulations and consulting projects, students learn to synthesize diverse information, weigh trade-offs, and make informed decisions that align with organizational objectives and stakeholder interests, cultivating the strategic mindset essential for driving sustainable growth.
The commitment to create an Office of Experiential Learning results from a deep understanding of our responsibility to our students. Everything we do centers around how to improve their opportunities.
Employers increasingly seek candidates who can demonstrate practical experience and a proven ability to apply their knowledge in real-world situations. Experiential learning provides students with tangible experiences that they can showcase on their resumes and discuss in job interviews. Internships, in particular, offer invaluable opportunities for students to gain industry-specific experience, network with professionals, and potentially secure job offers before graduation. By integrating experiential learning into our programs, we will significantly enhance the employability of our graduates.
Experiential learning also plays a vital role in fostering innovation and entrepreneurship. Business schools that offer opportunities for students to engage in entrepreneurial projects, start-up incubators, and innovation labs encourage creative thinking and risk-taking. These experiences allow students to experiment with new ideas, learn from failures, and develop a mindset geared towards innovation. As a result, graduates are better prepared to drive change and contribute to the growth and success of their organizations.
